"As we now get daily news reports from Occupy Wall Street, where the object of ire is not just banks but also those that are in the 1% wealth/earnings category, I felt the need for factual purposes just to list some of the publicly traded companies that were founded by billionaires and the amount of employees working at companies that were founded by them. Microsoft, Oracle, Walmart, Las Vegas Sands, Amazon, Google, Dell, Nike, News Corp, Apple, Echo Star, Estee Lauder, EBAY, Ralph Lauren, Franklin Resources, Carnival Cruise, Viacom, Limited Brands, Intel, Charles Schwab, MGM Resorts, Wynn Resorts, Cablevision, Dolby, Waste Management, Republic Services, Autonation, Best Buy, Salesforce.com, Direct TV, Home Depot, FedEx, Paychex, Marriott, AOL, Starbucks, Chesapeake Energy, Qualcom, Yahoo, Progressive and Vornado.
The above 42 companies employ a combined 4,000,000+ people globally. I fully understand the frustration of many as our country goes through a difficult time and I don’t want to get political in this note on who’s to blame. I just wanted to put some faces behind these billionaires and corporations they built and I can’t imagine our world without them."
- Barry Ritholtz (www.ritholtz.com)
"When things began to disintegrate, no one dared to take away the punchbowl. They feared shutting off the monetary heroin would lead to riots, civil war, and, worst of all communism. So, realizing that what they were doing was destructive, they kept doing it out of fear that stopping would be even more destructive."
- Art Cashin (from a discussion of the Weimar Republic's hyperinflation)
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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